FOR IMMEDIATE RELEASE October 12, 2021 http://www.bis.doc.gov BUREAU OF INDUSTRY AND SECURITY Office of Congressional and Public Affairs (202) 482-1069 BIS IMPOSES $1.8 MILLION PENALTY ON VTA TELECOM CORP. TO RESOLVE ALLEGATIONS OF MISREPRESENTATIONS MADE TO BIS, OTHER GOVERNMENT AGENCIES WASHINGTON – Today, Kevin J. Kurland, Acting Assistant Secretary of […]
CBUAE imposes financial sanctions on six exchange houses operating in the UAE Abu Dhabi (4 October 2021): The Central Bank of the UAE (CBUAE) imposed financial sanctions on six exchange houses operating in the UAE, pursuant to Article 14 of the Federal Decree Law No. (20) of 2018 on Anti-Money […]
Schlumberger Rod Lift, Inc. (“SRL”) (now d/b/a Lufkin Rod Lift, Inc.1) — a Frisco, Texas-based company that was formerly a subsidiary of Schlumberger Lift Solutions LLC (“SLS”), itself a U.S. subsidiary of Schlumberger Limited (“Schlumberger”) of Curaçao, Netherlands — has agreed to pay $160,000 to settle its potential civil liability […]
Cameron International Corporation has agreed to pay $1,423,766 for apparent violations of Directive 4 sectoral sanctions under the Ukraine/Russia-related program. Although the violations were non-egregious, they were not voluntarily self-reported. What Cameron Did Between approximately July 29, 2015 to November 28, 2016, Cameron appears to have violated Directive 4 issued […]
17 September 2021 South African Reserve Bank imposes administrative sanctions in terms of the Financial Intelligence Centre Act 38 of 2001, as amended The South African Reserve Bank (SARB) has imposed administrative sanctions on two life insurers and directed them to take remedial action. The SARB found weaknesses in each […]
NewTek, a company from San Antonio, settled its liability for 52 non-egregious, voluntarily self-disclosed violations of the Iranian Transactions and Sanctions Regulations (ITSR) for $189,483. OFAC specifically noted the company’s cooperation and remedial response in the overview of the action notice. What NewTek did (and didn’t do) From approximately December […]
The bank and its parent company settled with OFAC for $862,318 for 98 voluntarily self-reported, non-egregious Apparent Violations of the Iran and Syria sanctions programs. What they did In early 2019, First Bank’s regulator, the National Bank of Romania, flagged a U.S. dollar transaction that First Bank had processed for […]
Bank of China’s London branch is paying $2,329,991 (from a $4,313,799 base) for 111 voluntarily self-disclosed violations of the Sudanese sanctions program, committed between September 2014 and February 2016. What Bank of China did As a result of an internal investigation triggered by a Sudanese customer’s request to process a […]
FinCEN Announces $100 Million Enforcement Action Against Unregistered Futures Commission Merchant BitMEX for Willful Violations of the Bank Secrecy Act ContactOffice of Strategic Communications, 703-905-3770Immediate ReleaseAugust 10, 2021 WASHINGTON—The Financial Crimes Enforcement Network (FinCEN) has assessed a civil money penaltyin the amount of $100 million against BitMEX, one of the oldest and […]
Don’t forget, they got whacked just last year by OFAC – here’s my blog post about that settlement… Anyhow… today’s settlement… U.S. Department of State Concludes $6.6 Million Settlement of Alleged Export Violations by Keysight Technologies, Inc. MEDIA NOTE OFFICE OF THE SPOKESPERSON AUGUST 9, 2021Share The Department of State […]
